Realia Ltd recorded sales of 480,000, and purchases of 360,000. Its opening stock cost 30,000 and its
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Realia Ltd recorded sales of £480,000, and purchases of £360,000. Its opening stock cost £30,000 and its closing stock was valued at £35,000. Depreciation was to be provided at 10% straight line on assets which cost £160,000, and other expenses totalled £72,000. Use these figures to prepare a historical cost profit and loss account for the year.
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